Philippines adds $1-B to IMF's war chest for global woes

[PorkChop :o)]

kahit ilang bilyon pa yang ipledge na yan.. ang masaklap na katotohanan eh nasa 3rd world category pa rin tayo.

uunahin mo pang tumulong sa mga tiga kabilang baryo samantalang yung pamilya mo naghihirap at walang makain kundi noodles..

kawawang pilipinas

[peternato9]

pwede ba pesos nalang sobra naman daming kulang sa budget sa Health care and education

[Objection]

$1 Billion Para sa mga puti imbes kaunlaran ng sariling bansa


Just how retarded is our president


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SA kabila ng sinasabing pagbuti ng lagay ng ating ekonomiya sa unang bahagi ng taon, lalo pang lumobo ang utang ng Pilipinas ngayong 2012.



Ayon sa ulat ng Bureau of Treasury, nitong buwan ng Abril ay umabot na sa P5 trilyon ang kabuuang utang ng bansa, mula sa dating P4.7 trilyon.

http://www.pinasglobal.com/2012/06/u...#ixzz1ygZ4bvGv

[Kray0n]

Abnoy deserves a SLAP in the face for this one. Dolyar ang pinag-uusapan dito, di peso.

This is enough to solve the power crisis in Luzon and Mindanao many times over, save thousands of Filipina from prostitution, and feed struggling families for 10 years..not to mention upgrade the country's defence equipment and hire the best strategist! This is the height of absurdity and lack of intellect.

ummm, no, it's certainly not enough to solve any one of those problems. maybe prostitution, but certainly money ain't enough.

anyway, it is pretty excessive. but I take it that the money is just being loaned to them, right? what I don't understand is why we have to loan them anything. Am pretty sure everyone knows that one billion is a huge amount.

[mark.dubai]

uunahin mo pang tumulong sa mga tiga kabilang baryo samantalang yung pamilya mo naghihirap at walang makain kundi noodles..

kawawang pilipinas

OK lang 'yun. Mayaman naman na silang magkakapatid, magkakamag-anak at magkakakampi so puwede na. 'Wag nang isipin ang mga jologs na Pilipino.

[victoryliner]

Statement of BSP Gov. Amando Tetangco Jr. on $1B loan of PHL to IMF
June 23, 2012 3:21pm

The Philippines is supporting the global efforts to stabilize the world economy and maintain it on a growth path. This is the reason why the Philippines is extending a $1 billion loan to the IMF.

We are a member of the global community of nations and it is also in our interest to ensure economic and financial stability across the globe.

The Philippines is a member of the International Monetary Fund, which uses the contributions from its members to provide loans to countries going through financial difficulties to minimize its adverse impact on their people.

For nearly forty years until 2006, the Philippines itself was a net borrower from the IMF. We finally fully paid our loans to IMF in December 2006 as the implementation of continuing reforms have made our economy stronger.

Today, our economic fundamentals are sound, our banks are able to meet domestic credit needs, and we are capable of lending $1 billion from our international reserves to the IMF.

This is a loan to the IMF and we will get our money back with interest.

In effect, by extending a loan to the IMF that will earn money for the Philippines we are also able to help other nations saddled with financial problems. Other nations have also committed to help IMF address the current financial crisis. — BSP news release

source: http://www.gmanetwork.com/news/story...-of-phl-to-imf

[Ghost Rider]

Pang SONA din yan, kailangan niya yan para may maipagyabang naman sa mga kampon at fans niyang humaling na humaling at naninilaw

Atleast masasabi ng naghihirap na zombies, di bale ng mahirap ang bansa namin, nasa tuwid na daan naman at nakakatulong pa kami sa naghihirap sa ibang bansa

Pinoy pride, kahit walang wala na, tumutulong pa.

Hindi sa sinasabi kong wag tumulong, pero ayusin mo muna bakuran mo bago ka tumulong, sinasakop na tayo ng China, ilang fighter planes na mabibili niyan like these models:

F-22 Raptor stealth fighter jet costs $150 million
Sukhoi Su-30MKI costs $35.74 million
Eurofighter Typhoon costs €90 Million
Chengdu J-10 costs $27.84 million

Hirap talaga kapag walang priority at pagmamahal sa bansa. Makakapagtayo ka na ng ilang nuclear power plants niyan government owned para labanan naman ang monopoly at mapababa ang price ng kuryente para pumasok naman ang mga investors.

Kahit common sense wala na ata ang mga taga-gobyerno.

[IKARROS]

Look at the bright side. 'Pledge' pa lang naman. And we all know the President's track record for keeping promises

oo nga Mod, musta na kaya yung Pledge niya sa Fukushima Disaster? parang walang balita kung tinupad nga o binaon niya sa limot.

[IKARROS]

kahit ilang bilyon pa yang ipledge na yan.. ang masaklap na katotohanan eh nasa 3rd world category pa rin tayo.

uunahin mo pang tumulong sa mga tiga kabilang baryo samantalang yung pamilya mo naghihirap at walang makain kundi noodles..

kawawang pilipinas

gusto ra tulungan ang Greece kasi marami raw OFW dun. kakatawa sila, sa simpleng halimbawa, gusto nilang pautangin yung kapitbahay nilang mayaman na medyo nagipit sa pera na amo ng kanilang mga anak para may pang sweldo sa anak nila.

[admiral__cidric]

Mas ok na yung ipamigay, at least may pinuntahan, kesa naman ilagay sa sariling bulsa tulad ni pandak!

[kreuk]

Noynoy will turn this country around. He won't make it rich but he'll affect the way it's being run.

If he can raise $1B, he's proven may control siya sa government including corruption and its utang. I hope 6 years is enough for him to accomplish his goals. All the best.

[xctrekker]

Back in the 70s somebody (I think it was a politico) said that the Philippines is actually a RICH country PRETENDING to be POOR.

[Valorian]

Mas ok na yung ipamigay, at least may pinuntahan, kesa naman ilagay sa sariling bulsa tulad ni pandak!

parang sinabi mo na ring kurap ang admin ni Pnoy.

[wowpinas]

ummm, no, it's certainly not enough to solve any one of those problems. maybe prostitution, but certainly money ain't enough.

anyway, it is pretty excessive. but I take it that the money is just being loaned to them, right? what I don't understand is why we have to loan them anything. Am pretty sure everyone knows that one billion is a huge amount.

If everyone knew what $1 Billion is really worth, then we wouldn't be in this situation in the first place. My comment was based on a quick estimation on how it would cost to repair the hydroelectric dams in Mindanao, upgrade the capacity of power plants in Luzon, cost of alleviating hunger, and the cost of even a few military equipment (not necessary new warships). Anyway, that's not the point.

Statement of BSP Gov. Amando Tetangco Jr. on $1B loan of PHL to IMF
June 23, 2012 3:21pm

The Philippines is supporting the global efforts to stabilize the world economy and maintain it on a growth path. This is the reason why the Philippines is extending a $1 billion loan to the IMF.

We are a member of the global community of nations and it is also in our interest to ensure economic and financial stability across the globe.

The Philippines is a member of the International Monetary Fund, which uses the contributions from its members to provide loans to countries going through financial difficulties to minimize its adverse impact on their people.

For nearly forty years until 2006, the Philippines itself was a net borrower from the IMF. We finally fully paid our loans to IMF in December 2006 as the implementation of continuing reforms have made our economy stronger.

Today, our economic fundamentals are sound, our banks are able to meet domestic credit needs, and we are capable of lending $1 billion from our international reserves to the IMF.

This is a loan to the IMF and we will get our money back with interest.

In effect, by extending a loan to the IMF that will earn money for the Philippines we are also able to help other nations saddled with financial problems. Other nations have also committed to help IMF address the current financial crisis. — BSP news release

source: http://www.gmanetwork.com/news/story...-of-phl-to-imf

If lending to the IMF is such a good deal, then I wonder why the US, Canada, and the UK have all refused to lend more money to this organization.

http://www.canada.com/business/Canad...587/story.html
http://www.guardian.co.uk/business/2...ls-imf-bailout

[Cutie_Chabelita]

I might agree on this if there is also a structural adjustment program (i.e. conditions, google it for further info) the country can impose on IMF upon lending this money. Paybacks a b!tch. But there's none so fnck this sh!t.

[aislinn]

This is nothing but bragging rights for this administration. Pnoy can say that this $1 billion loan to IMF happened on his watch.

[blue_tracer]

natural pagmamatigasan ng palasyo na tama desisyon niya magpahiram ng ganung kalaki. 1 billion USD.

kailan pa umamin ang dilaw na mali sila? laging tama.

[Objection]

Look at the bright side. 'Pledge' pa lang naman. And we all know the President's track record for keeping promises

Well tama ka naman na 'pledge' palang naman yan

pede rin di matuloy by letting it crash n burn,

kasalanan pa rin naman nila yan for giving loans with bad credit


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The President of the German Bundesbank, Jens Weidmann, said his bank was willing to provide loans to the IMF so long as nations outside the euro-area also contribute.

He said the Bundesbank has stated its readiness to provide up to €45bn as long as there was a fair distribution of the burden among IMF members. If these conditions are not fulfilled, then we cannot agree to loan to the IMF.

He said it would be problematic if the US did not contribute.

Canada, U.S. refuse to give IMF emergency funds for Europe crisis


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REALITY SUCKS

Etong rich countries ayaw magpahiram ng pera, pero etong president for the 3rd world country natin OK lang sa kanya

[dy/dx]

pagpag na nga lang kinakain ng mahihirap........

lyn tek na abnoy ito.

[Singularity]

Madami din umaangal pag ibibigay tong ganitong halaga sa mahihirap lol (see CCT).